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If there were a basic income, this would be true. In the absence of a basic income, willingness to pay represents the true preferences of "people close to the
by MarkPNeyer 9y ago
If there were a basic income, this would be true.
In the absence of a basic income, willingness to pay represents the true preferences of "people close to the source of money creation", not people or societies in general.
When some parties can conjure money out of thin air, this idea that prices reflect what people want simply doesn't work. The prices begin to reflect, more and more, the desires of people with the ability to manufacture money.
What you seem to be saying is "if the large number of poor people in the world cared about _their own quality of life, they would have it".
- jezclaremurugan 9y agoThe influence may not all be equal, but at least in the developed world, for the sake of a contrived example - the number of people who can choose to spend $2-5 on a coffee vs a non ad-supported app is pretty high - and unfortunately, people seem to be choosing the coffee most of the time. > What you seem to be saying is "if the large number of poor people in the world cared about _their own quality of life, they would have it". Definitely not - but what I won't mind saying is - if the large number of middle class people in the developed world cared about the poor people, the living condition of poor people would significantly improve.